"A "Shared Earnings Agreement" (SEA) isan arrangement between a business and an investor about an upfront investment in a startup or a small businessthat entitles the investor to a share of the future earnings (hence the name) of the business.
used as a substitute for equity-like structures like a SAFE, convertible note, or equity. It is not debt, doesn't have a fixed repayment schedule, doesn't require a personal guarantee."
Puerto Rico Shared Earnings Agreement between Fund & Company
State:
Multi-State
Control #:
US-ENTREP-0057-1
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Puerto Rico corporations are treated as foreign corporations for U.S. income tax purposes.
Corporate - Corporate residence A corporation organised or created under the laws of Puerto Rico is a domestic corporation. A domestic corporation is a resident corporation even if it does not conduct business operations in Puerto Rico. A corporation created elsewhere is considered a foreign corporation.
One of the most attractive features of the Act is that resident investors3 that invest in a PEF are entitled to deduct from taxable income up to a maximum of 30 percent of their "initial investment" within a maximum period of 10 years, provided that the maximum deduction does not exceed 15 percent of their net income ...
(5) The term ?foreign country? means any country or territory, excluding the United States, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, the Trust Territory of the Pacific Islands, American Samoa, Guam, the Virgin Islands, and other territories or possessions of the United States.
A Puerto Rico LLC taxed as a Corporation of Individuals is taxed as a pass-through entity and doesn't pay corporate income tax, making it similar to a partnership. However, unlike a partnership, a corporation of individuals can make distributions to its members that aren't subject to US self-employment taxes.
Puerto Rico is an unincorporated territory of the United States and Puerto Ricans are U.S. citizens; however, Puerto Rico is not a U.S. state, but a U.S. insular area. Consequently, while all Puerto Rico residents pay federal taxes, many residents are not required to pay federal income taxes.